COLLEGE GRADUATE SCAM VICTIM

Li Wenxing， a 23-year old college graduate， was found dead in a pond in Jinghai District of Tianjin on July 14， after he was lured into a pyramid scheme disguised as a software company on a recruitment website.

Born in a farmers family in Dezhou， Shandong Province， Li was admitted by Shenyang-based Northeastern University in 2012. He once considered giving up the opportunity to go to college due to his familys poverty.

After becoming frustrated by many job search failures， Li received a job offer from a company called “Client Server International” through the Boss Direct Hire online recruitment platform. Though suspicious that the offer might be a scam， he still accepted and boarded a train to Tianjin on May 20. After arriving in Tianjin， he lost contact with his family and friends， apart from some calls asking for money.

According to the police， five people were detained in connection with Lis case and confessed their crime. Moreover， an increasing amount of people have called for job recruitment websites to strictly verify company information.

Fitness Facilities Needed

Xinhua Daily Telegraph August 8

This August 8 marked the Ninth National Fitness Day， when various activities were held， while many sporting facilities were opened to the public free of charge. In addition， physical checkups and sports lectures were also provided to the public.

Recent years have witnessed the publics increasingly rising passion for sports and fi tness activities， particularly among middleaged and elderly people. By the end of 2016， China had 230 million people above the age of 60. Moreover， the nation has a burgeoning elderly population， which implies that more and more middle-aged and elderly people will participate in sports activities. The question now is， whether there are enough sports and fitness facilities available for these people. Currently， conflict is rising because of limited venues and the increasing number of participants.

Not only do old communities widely lack fi tness facilities， but newly constructed residential communities are also found short of such facilities. As for cities landscape， the familiar picture features crowded buildings divided by web-like streets and roads. There is little room left for residents to engage in sports.

In the long run， urban layouts should include more parks and playgrounds， and existing venues should also be made better use of. The National Fitness Day actually stresses the importance of paying more attention to facilities for the publics daily life.

Regulating Outbound Investment

China Newsweek August 7

In the first half of 2017， non-financial outbound direct investment reached $48.2 billion， down by 45.8 percent compared with the same period of 2016. However， Chinese companies outbound investment seems to have entered a fast track since 2008， and the scale hit a record of $170.1 billion in 2016. Meanwhile， Chinas foreign exchange reserves plummeted from $3.993 trillion to $2.998 trillion from June 2014 to January 2017. The Peoples Bank of China， the central bank， said a big reason for the sharply shrinking foreign exchange reserve is that it has to use a lot of money to stabilize the yuans exchange rate.

Burgeoning outbound investments have led to huge capital outf lows， destabilizing the exchange rate of the yuan and also Chinas domestic fi nance. However， to spend such a large amount of foreign exchange reserves to stabilize the exchange rate within such a short period of time has rarely been seen， even in world economic history. Rapid and continuous capital outflows will easily result in an imbalance of Chinas intentional payments. Chinas fi nancial regulator has begun to tighten its grip against this background. The Ministry of Commerce recently again issued warning against outbound investment in the areas of real estate， hotels， universal studios， entertainment and sports clubs. Regulators are worried that a lot of companies are moving their capital out of China in the name of overseas investment. Most companies that make outbound investments are heavily indebted back at home. Thus the key of fi nancial regulation is capital outfl ow.

Given the tighter grips on financial regulation， many people worry that the Chinese Government will reverse its policy of encouraging enterprises to go out. The Ministry of Commerce and the National Development and Reform Commission have expressed that China still supports capable and qualifi ed Chinese enterprises to go out and conduct real outbound investments in accordance with commercial and business laws and regulations. Particularly， enterprises are supported to invest in programs of the Belt and Road Initiative and international capacity cooperation.

Car-Hailing Squeezed

Guangming Daily August 8

One year has passed since the regulation on the management of car-hailing services was issued by the Ministry of Transportation and six other relevant authorities. Since then， less than 100，000 drivers have got permits to provide car-hailing services in China， but the market has more than 200 million consumers. When the legalization of car-hailing services started one year ago， the public hoped that healthy market competition would appear， but one year later， conventional taxis have come to dominate city streets again.

The regulation allows local authorities to work out their own specifi c rules on how to operate the business. Thus， many restrictions have been formulated. As a result， while the number of drivers engaged in the business has diminished， the number of cars available for hailing has also decreased.

The policy of regulating car-hailing services means to guarantee safe rides. However， to impose massive restrictions on this business will inevitably make travel more diffi cult for the public.

This is not a result expected by either the government or the public. The government needs to pay more attention to residents actual needs and thus， while trying to curb disorderly development of the car-hailing sector， relevant authorities should be more careful and considerate in dealing with new economic models like this. More tolerance is needed. After all， whether the carhailing business can develop smoothly will not only affect drivers employment prospects， but also a large number of urban residents daily life.

YOUNGEST CANDIDATE ACADEMICIAN

Yan Ning， top biology professor at Tsinghua University， recently became the youngest candidate academician of the Chinese Academy of Sciences.

Born in 1977 in Laiwu， Shandong Province， Yan studied biological sciences and technology at Tsinghua University and graduated with a bachelors degree in 2000. She got a PhD and a postdoctoral degree in molecular biology from Princeton University between 2000 and 2007.

At the age of 30， Yan became the youngest professor in the history of Tsinghua University after she returned home from the United States. In 2014， her research team carried out significant research under her leadership into the physical structure of a protein related to various diseases. She was granted the Young Investigator Award by the Protein Society， an international organization， in 2015.

Yan will take up a tenured professorship at Princeton University this autumn. According to Yan， the principle reason for her move is the desire for a new environment， and she will contribute to promoting international collaboration between Tsinghua and Princeton in the future.

“China is growing fast enough； its banks and other companies are strong enough to pay down debt and deleverage with a soft-landing scenario.”

Robert Savage， CEO of CC Track Solutions， predicting that the risks to the yuan and to Chinas economy remain connected with growth， the role of leverage， and confidence in the government

“Because of better natural and cultural environments， we inspected many places… and came to the conclusion that Kingston is a very good place for production.”

Leng Youbin， Chairman of Feihe International Inc.， a top manufacturer of infant formula in China， announcing that Feihe will invest $234 million to set up a manufacturing plant in Kingston， Canada

“The adoption of the framework …is a symbol of commitment by ASEAN and China to really push forward [an] effective and substantive code of conduct.”

Robespierre Bolivar， spokesman for the Department of Foreign Affairs of the Philippines， announcing Chinas proposed initiatives will kick-start formal negotiations on an actual Code of Conduct in the South China Sea

“In the summertime， this invisible ozone pollution has worsened， and the government should set reduction targets to control it， like they did in combating PM2.5.”

Chen Songxi， professor from Peking Universitys Center for Statistical Science， interpreting a report that shows the Beijing-Tianjin-Hebei region faces worsening ground-level ozone pollution during summer